Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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http://www.investegate.co.uk/Article.aspx?id=201111160900031708S
T-Rex exploration well commences in Norwegian Sea Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic margin, the North Sea and Norway, is pleased to announce that drilling has commenced on the T-Rex prospect (Faroe 30%), located in the Norwegian Sea. The T-Rex prospect (Blocks 6506/12, 6406/2&3 part) is situated next to the Statoil operated Smørbukk fields on the Halten Terrace in the Norwegian Sea, an area where the Company made the Fogelberg and Maria discoveries in 2010. The main targets in the T-Rex well (6406/3-9) are lower Cretaceous sandstones of the Lange and Lysing Formation, which have already been tested and flowed oil in thin sand intervals in well 6506/11-2 (drilled by Statoil in 1991) at the edge of the prospect. The sands are expected to improve in thickness and properties down-dip over the T-Rex prospect. The drilling operation, to be undertaken by Maersk Oil as operator (70% participating interest), using the Transocean Winner drilling rig, is expected to be completed early in the New Year, 2012. The T-Rex licence was awarded to Faroe Petroleum in the Norwegian APA (Awards in Predefined Areas) 2006 Licensing Round. Graham Stewart, Chief Executive of Faroe Petroleum plc, commented: "We are very pleased to announce the spudding of the second of our three 2011 Norwegian exploration wells. The T-Rex prospect is situated in a well defined area and one in which Faroe has significant proprietary experience. The well is a potential play opener in this prolific region with considerable follow up potential.
T-Rex exploration well commences in Norwegian Sea "is pleased to announce that drilling has commenced on the T-Rex prospect (Faroe 30%), located in the Norwegian Sea." The Norwegian Kalvklumpen exploration well is also expected to spud in December, making this a particularly exciting period in our exploration programme
Thx. Yes, busy company. I've been watching this one for over a year now, been in and out etc. It is the best AIM-oilcompany I know. The share is a slightly different story and because of their, sometime very suprising initiatives, I do not mind their lack of info and news towards their shareholders. Though Butch is supposed to be low impact, in the upcoming newsflow they can make it a key newsrelease, providing uplift/catalyst etc. I expect great things to happen here on the short term (250listing/TO/assetssalesor acq/prod.suprises etc.) and working on the timing ;-) GL P.S. What happened with the bid on the tanker full of oil from the US strategic oil reserves? That one did make me smile!
Any guestimates about when to expect the RNS from the sidetrack for the Oil Water Contact? They had some days? left on the contract + how many for the result? Thx GLA
3 November 2011 - Year End results date (for the year ended 30 June 2011) Anybody know what to expect tomorrow?
I wanted very much to go to the presentation, but unfortunatey could not get away (as I live 8,000 miles away) - - - Should see more upwards movement from here, and then head North of 200p - just my opinion
In my opinion FPM could easily see 100p on top of current share price - check this one out and I feel sure you will come to the same conclusion - do research first always before buying
with this discovery perhaps Panmure will up their target price - currently 261p
pleased to announce an oil discovery in well 8/10-4S on the Butch prospect (Faroe 15%) located in the Norwegian North Sea. Highlights: · The 8/10-4S exploration well discovers oil in the Butch prospect · The well encountered net oil pay of approximately 50 metres in the Upper Jurassic reservoir of the Ula formation · The entire reservoir section was found to be oil bearing and an oil water contact was not penetrated · The joint venture has decided to proceed immediately to drill a down-dip side-track well to appraise for additional volumes of oil further down on the large salt induced structure in accordance with the success case contingency plan
very exciting with further upside
Certainly an impressive discovery, with potentially more to come.
Looks like a blue day today!
Graham Stewart, Chief Executive of Faroe Petroleum plc, commented: "We are very pleased to announce a discovery on the Butch Prospect, which is our second successful exploration well this year, following the announcement of the West of Shetland Fulla discovery in August and our sixth discovery from eight exploration wells since 2009. The Butch discovery is very exciting with further upside potential from the planned side-track well. Alongside our joint venture partners in the licence, Centrica, Suncor and Spring Energy, we very much look forward to the further evaluation of this discovery . "As we continue with our significant multi-well drilling programme, we also look forward to our next two exploration wells, both scheduled to be drilled in Norway this year: T-Rex (Faroe 30%), planned to commence at the end of October and Kalvklumpen (Faroe 20%) planned to commence in November."
http://www.investegate.co.uk/Article.aspx?id=20111018070000H5520
as the market gradually recovers I would expect FPM shares to go from current 140p to at least 250p (which analysts have already targeted) - in my opinion
Hi Kilt - I still have KIBO as a reminder not to buy in haste!!!!! should've baled at 5p been here quite some time now
hi JohnnyT you here as well we are a long way from kibo regards kilt
..... 31km away from Clare field?
...West of Shetland got anything to do with this?
LR: If sells...
Two 850.000 trades. Any ideas?
but stil hugely over-sold - should be up around 200p already - in my opinion (and the taget is 261p - see previous posts)
News on FDP should be with us before 30 sept When can we expect to hear about Butch? GLA